FIGHT FOR CRUDE-OIL.

 

 

OPEC.   OPEC HEADQUARTERS:      Vienna.  Austria.

All world powers are anxious to grab whatever oil available in the world market.

Statistics indicate that Saudi Arabia is the number one oil producing country in the world, its oil output being 8 million dollars a day.

USA is the second largest oil producing country, its output being 7 million barrels a day.

Middle East Countries account for 30% of world production of oil.

North American countries account 20 % of the world production of oil.

Western Europe produce 10% of the world production of oil.

 USSR produces 7 million barrels of oil a day.

 

Russia is not an OPEC member.

OPEC members. SA,Iran UAE,Kuwait, Iraq, Venezuela,Nigeria Libya etc.

 

 

One barrel of crude-oil weighs 42 gallons(140 Kgs)  Recovery of petrol is about

21 gallons( 69.lts) in one barrel of crude-oil. There are other bye-products like napthelene,

bitumen tar asphalt. They are taken into other usage. Nothing is lost except evaporation-loss.

 

Prosperity and Progress of China is today due to its domestic finds of crude oil in China.

China has turned out to be an important oil producing country in the world market. Russia

had lagged behind in its oil production after l992. The soaring oil prices has helped it to old high

standard in Russia from 1998 and onwards. Olden days of prosperity have returned in Russia.

It is only, unfortunate, unlucky, India, that does not see golden days of its glory. History will

never pardon the present day lot for mismanagement.